Schwab RT SQL Recordkeeping C250/Recompute Statement Balance. Operating notes for AKT Retirement Plan Services

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1 Schwab RT SQL Recordkeeping C250/Recompute Statement Balance Operating notes for AKT Retirement Plan Services

2 Schwab RT SQL Recordkeeping System Operating Notes Prepared for AKT Retirement Plan Services September 16, 2005 Copyright 2005 by Schwab Retirement Technologies, Inc., a wholly owned subsidiary of The Charles Schwab Corporation and an affiliate of Charles Schwab & Co., Inc. Information in this document is subject to change without notice. No part of this document may be reproduced or transmitted in any form or by any means, electronic or mechanical, for any purpose without the express written permission of Schwab Retirement Technologies, Inc. For further information, contact Schwab Retirement Technologies, Inc. at Ballantyne Corporate Place, Suite 300, Charlotte, NC 28277, USA, Tel: (800) , Web site: schwabrt.com. Schwab RT Administration Solutions is the property of Schwab Retirement Technologies, Inc., a wholly owned subsidiary of The Charles Schwab Corporation and an affiliate of Charles Schwab & Co., Inc. SQL RK Schwab Retirement Technologies Page 2 of 8

3 Table of Contents Operating notes for AKT Retirement Plan Services...1 Where to Get Additional Information...4 Special Operator Notes:...5 Using C250/Recompute Statement Balance...5 To recompute statement balances for transactions from 01/04/2004 to 12/31/2004, do the following:...7 To run a balance load from 01/01/2005 to the most current date on file, do the following:...8 SQL RK Schwab Retirement Technologies Page 3 of 8

4 Where to Get Additional Information For questions regarding this update, please call your Schwab RT Professional Services Representative at (800) For Schwab RT product documentation and other resources, visit our Product Resource Center at SQL RK Schwab Retirement Technologies Page 4 of 8

5 Special Operator Notes: Using C250/Recompute Statement Balance Introduction and Overview: The C250/Recompute Statement Balance application recomputes the monthly values in the Statement Balance records for the plan(s), participant(s), and dates you specify. Statement Balance data includes the units, cost, and uninvested cash held by each participant at the beginning of each month. The Start a New Day application adds records whenever it detects the beginning of a new month. If Statement Balance data is corrupt, statement balance records are recalculated from the starting dates through the ending dates. To recompute the first record, the module uses data from the statement balance record for the month preceding the starting date and the transactions that occurred during that month. Then the module recalculates the subsequent statement balance records, in order. If you choose to recalculate the current balance, the statement balance records are used from the beginning of the current month and the transactions that have been released since that time to update the Balance data. If you have changed the precision of an investment and you attempt to recompute the balances for that investment beginning with a period prior to the change, the application recomputes the balances using the original unit precision. The C022/Pricing module has also been enhanced to allow use of an Excel spreadsheet for importing pricing. Details follow. SQL RK Schwab Retirement Technologies Page 5 of 8

6 New Modifications to C022/Pricing A new MS Excel File option on the Price Via File window in C022/Pricing allows pricing updates to be entered by an Excel spreadsheet for the date specified in the Pricing Date field: The application reads only two spreadsheet headers, PRICE and CUSIP (in either order), and uses only Sheet1 in the Excel spreadsheet. The Pricing Date field applies to any of the File Selections selected. By selecting the Print Error List option, the application prints a list of any CUSIP mismatches found as pricing changes are updated. SQL RK Schwab Retirement Technologies Page 6 of 8

7 To recompute statement balances for transactions from 01/04/2004 to 12/31/2004, do the following: AKT Note: Some setting differences are involved in recomputing statement balances for 2004 and The following outlines process steps for each of these procedures: 1. Open the Recompute Statement Balance application from SQL Recordkeeping. The application window appears. Required settings for the following procedures are illustrated below: 2. From the Plan ID field, you can select All Plans in Current Directory to process all plans in the Plan Group. However, you may prefer to process one plan at a time by selecting each Plan ID separately and repeating these steps. Note: Beginning and Ending Participant fields will not be used. 3. Select the First Date on File checkbox to indicate that the activity will begin with the first process date in the file. Since, in this case, we intend to process all activity from the first date through the 2004 end date (12/31/2004), enter as the Ending Date. This encompasses all activity in The application is designed to process using specific dates or to use the first and last dates on file. However, selection of the First Date on File checkbox and use of the Beginning Date field are mutually exclusive and we have a specific ending date (12/2004) in this case. 4. Leave the Recompute Current Balance checkbox clear since you will not need to recalculate current balances that are stored in the system as balance data for Click the Process button on the toolbar to complete the operation. SQL RK Schwab Retirement Technologies Page 7 of 8

8 To run a balance load from 01/01/2005 to the most current date on file, do the following: 1. Open the Recompute Statement Balance application from SQL Recordkeeping. The application window appears. Required settings for these procedures are illustrated below: 2. From the Plan ID field, you can select All Plans in Current Directory to process all plans in the Plan Group. However, you may prefer to process one plan at a time, by selecting each Plan ID separately and repeating these steps. 3. Enter as your Beginning Date which uses balance data starting with the balance load at the beginning of January. To recompute the first record, the module uses data from the statement balance record for January, the month preceding the starting date and the transactions that occurred that month. Note: Do not select the First Date on File checkbox this time (the Beginning Date field and First Date on File checkbox are mutually exclusive). 4. You will not enter an Ending Date. Instead, select the Last Date on File checkbox to indicate that the activity should end on the last process date in the file.. 5. Select the Recompute Current Balance checkbox since we want to recalculate the current balances for this period that are stored in the system as balance data. 6. Click the Process button on the toolbar to complete the operation. SQL RK Schwab Retirement Technologies Page 8 of 8